Advisor Resource Council Purchases 159,887 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Advisor Resource Council grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2,983.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,247 shares of the computer hardware maker's stock after purchasing an additional 159,887 shares during the period. NVIDIA comprises about 1.3% of Advisor Resource Council's holdings, making the stock its 7th biggest holding. Advisor Resource Council's holdings in NVIDIA were worth $17,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter worth about $43,515,504,000. GAMMA Investing LLC grew its holdings in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the last quarter. Northern Trust Corp grew its holdings in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 0.3%

NVDA traded down $0.49 on Thursday, hitting $162.39. 61,446,438 shares of the company were exchanged, compared to its average volume of 266,231,597. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $164.70. The company has a market cap of $3.96 trillion, a PE ratio of 52.40, a PEG ratio of 1.42 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock's fifty day moving average is $139.47 and its 200-day moving average is $128.43.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The business's revenue was up 69.2% on a year-over-year basis. Equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's payout ratio is presently 1.29%.

Analyst Ratings Changes

Several research firms recently commented on NVDA. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. Truist Financial lifted their price objective on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research report on Thursday, April 3rd. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Finally, TD Cowen lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $177.03.

Insider Activity

In other NVIDIA news, Director A Brooke Seawell sold 50,514 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $158.37, for a total value of $7,999,902.18. Following the sale, the director owned 1,974,784 shares in the company, valued at $312,746,542.08. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $158.35, for a total value of $11,876,250.00. Following the completion of the sale, the chief executive officer owned 75,023,225 shares in the company, valued at $11,879,927,678.75. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,296,844 shares of company stock worth $624,019,677 in the last quarter. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.